J.C. Penney to Close Northgate Mall Store

Reported by: Amy Katcher
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Updated: 1/16 6:55 am
(WDEF)  CNN announced Wednesday J.C. Penney will close 33 stores across the U.S. and lay off 2,000 workers.
     The anchor store at CBL Properties owned Northgate Mall in Hixson is on the chopping block.
      Officials say the store closings should be complete by early May.
      The move is to help generate $65 million in annual cost savings.
      The Northgate Mall location is the only store closing in Tennessee.
      No stores in Georgia were affected by the move.
      A J.C. Penney store in Selma, Alabama will also close.
      But investors weren't impressed by the announcement-- J.C. Penney shares slid 1.1% in after-hours trading Wednesday.
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